Greenmarkets as Economic Development
Posted by Glenn on April 9, 2006 - 9:23am in The Oil Drum: Local
Food is a $20 billion market in NYC. Today, the NY Times today showcases how Union Square has become a food paradise, with a Wholefoods, great restaurants and a new Trader Joe's, largely because of the enormous greenmarket located there. Instead of allowing a race to the bottom on price, it raised the level of competition, established a good minimum standard for quality food in the area and people flocked to the area from other places. I know many people in my neighborhood who travel by train all the way down there just to get good quality food at reasonable prices.
Greenmarkets can serve as local economic development engines in urban areas and influence smart development outside the city limits through our purchasing power.